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eridani

(51,907 posts)
Sat Oct 6, 2012, 05:23 AM Oct 2012

Chesapeake Energy's Fracking "Land Grab" Across America

Yes, private corporations can take your land without paying for it. Wouldn't it be awful if government did it?

http://readersupportednews.org/news-section2/312-16/13808-chesapeake-energys-fracking-qland-grabq-across-america

Chesapeake wanted to drill there, and the offers could have netted the couple thousands of dollars in a bonus and royalties. But Bhandari says they ultimately declined the deals because they oppose fracking in residential areas. Fracking, slang for hydraulic fracturing, is a controversial method used to extract gas and oil.

Their repeated refusals didn't stop Chesapeake, the second-largest natural gas producer in the United States. This June, after petitioning a Texas state agency for an exception to a 93-year-old statute, the company effectively secured the ability to drain the gas from beneath the Bhandari property anyway - without having to pay the couple a penny.

In fact, since January 2005, the Texas agency has rejected just five of Chesapeake's 1,628 requests for such exceptions, a Reuters review of agency data shows. Chesapeake has sought the most exceptions during that time - almost twice the number sought by a subsidiary of giant rival Exxon Mobil, Reuters found.

Chesapeake says it only seeks exceptions to the Texas statute - called Rule 37 - as a last-ditch effort, and often because it cannot locate the land owner. The law, company spokesman Michael Kehs said, "protects the rights of the majority of mineral owners."

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Chesapeake Energy's Fracking "Land Grab" Across America (Original Post) eridani Oct 2012 OP
Aubrey McClendon is evil incarnate pscot Oct 2012 #1
du rec nt. limpyhobbler Oct 2012 #2
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